From the Philippines elections to the Great Resignation Flop – Here is your May 9 news briefing
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The Great Resignation wasn’t exactly great for everyone.
To start off, we’re looking into:
Philippines elections
The Philippines will elect President Rodrigo Duterte’s successor today – a moment that will determine the country’s fate for the next six years.
It seems as though Ferdinand “Bongbong” Marcos Jr., the sole son of former dictator Ferdinand Marcos, has the finish line in sight. According to the latest Pulse Asia survey, he has 56% favorability, which is about double that of former human rights lawyer and current Vice President Leni Robredo, who has run a grassroots campaign.
Hong Kong’s next leader
Sunday marked ex-security chief John Lee’s role as Hong Kong’s newly-appointed Chief Executive. Of the 1,424 valid votes cast by electors, Lee won 1,416. Lee’s platform included promises of diversity, business expansion and an overall improved Hong Kong. He has said that his administration will uphold the rule of law and remain accountable to Beijing and Hong Kong.
Xiaomi’s battle in India
Chinese phone maker Xiaomi says that Indian officials made threats of physical violence against Xiaomi’s executives during questioning.
According to a court filing made by Xiaomi and seen by Reuters, the company’s former India managing director, Manu Kumar Jain, current Chief Financial Officer Sameer B.S. Rao and their families were warned they would face “dire consequences” if they did not submit statements the way the agency wanted them to.
To end, we’ll look into:
The Great Resignation flop
You might have heard of the “Great Resignation,” where millions of people left their jobs in pursuit of a more fulfilling career. Well, it turns out that not everyone managed to find that. A March survey showed that one in five people who left their job regretted doing so, and only about a quarter of people said they liked their new job enough to stay.
Part of the reason here seems to be that hiring employers may have overpromised or misled interviewees about what the job would entail in a desperate attempt to try and get workers to join. In fact, nearly three-quarters of people who switched jobs said their new role was different from what they were led to believe.
In other news …
🇦🇫A harsh new restriction imposed by the Taliban government in Afghanistan will require all women to wear clothing that covers their face.
🇦🇺Australian leaders had a heated second election debate, featuring multiple instances of the two descending into a yelling match, both saying the other was unfit to lead.
🤑Twitter Blue is a subscription service on the platform that gives users a few extra perks, like undoing a tweet. Musk has apparently told investors that he expects the company to earn close to US$10 billion in revenue from these subs by 2028.
🦠Shanghai has tightened lockdowns, while Beijing is still testing its masses.
👩💻For US workers, this is the best time to be in the market. But for asset holders, not so much, with the world’s 500 richest losing over US$1 trillion this year.
🇭🇰Hong Kong government health advisers have said that travelers into the city who have had three vax doses should be allowed to quarantine at home.
🇺🇸US First Lady Jill Biden made a surprise trip to Ukraine on Sunday to meet with Ukrainian First Lady Olena Zelenska on Mother’s Day.
🇦🇪Binance CEO has called Dubai the “Wall Street of crypto.”
Written and put together by Jake Shropshire, Christine Dulion, Julianna Barcela and Krystal Lai
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